News Summary
Georgia has emerged as a leader in Black entrepreneurship, with 34.49% of businesses owned by Black individuals. The state saw a 26.36% increase in such businesses from 2023 to 2024, supported by local initiatives like the 3rd Annual Black Business and Community Expo. Community organizations play a crucial role in this growth, with Macon’s downtown Black-owned establishments rising from 18% to 28% in three years. As small businesses thrive, the local economy and community pride significantly benefit.
Macon, Georgia – A Leader in Black-Owned Businesses
As August marks National Black Business Month, new research highlights Georgia as the state with the highest percentage of Black-owned businesses in the United States, currently standing at 34.49%. The growth of these businesses in Georgia has surged by 26.36% from 2023 to 2024, showcasing a significant upward trend in entrepreneurship among the Black community.
Financial Support and Growth
Georgia’s robust support for Black-owned businesses can be seen in its ranking among the top five states for federal Small Business Administration (SBA) 7(a) loans. The state has successfully secured 4.09% of all approved loan amounts, which is more than double the national average. This financial backing is crucial for business owners looking to start or expand their enterprises.
Community Insights
Community leaders in Macon stress the importance of nurturing Black-owned businesses, indicating that their success contributes significantly to community strength and resilience. The Central Georgia Coalition of Black Businesses plays a pivotal role in supporting these enterprises, as evidenced by the recent 3rd Annual Black Business and Community Expo held at the Macon Mall. This event attracted over 1,000 attendees and focused on networking and promoting Black entrepreneurship.
Expo Highlights and Initiatives
The expo, organized by local business groups, provided various opportunities for entrepreneurs to showcase their businesses and connect with potential customers. New initiatives at the event included a Children’s Zone, highlighting the importance of STEM education and entrepreneurship for younger generations.
Increasing Representation in Local Business
Recent statistics reveal that 28% of all businesses in downtown Macon are now Black-owned, a significant increase from 18% just three years ago, according to the Knight Foundation. Furthermore, NewTown Macon, a nonprofit organization, has been instrumental in offering loans and training for aspiring entrepreneurs. Through their support, the number of Black-owned businesses in Macon has nearly doubled from 28 to 53 within a three-year span.
Empowering Local Entrepreneurs
Training and financial resources provided by organizations like NewTown Macon are helping local talent establish and grow their businesses. New business owners in Macon, such as George Drake, express aspirations to become vital parts of the community and are hopeful for future expansions.
Community Pride and Economic Impact
The growth of Black-owned businesses not only contributes to economic diversity but also fosters a sense of pride and opportunity within the community. Local leaders and entrepreneurs alike acknowledge the crucial role of small businesses as the backbone of the economy, reinforcing the importance of community support in sustaining this growth.
As Georgia continues to lead the nation in Black entrepreneurship, the positive momentum shows no signs of slowing down, setting a powerful example for other states and communities across the country.
Deeper Dive: News & Info About This Topic
- 41NBC: Georgia Leads U.S. in Black-Owned Businesses
- 13WMAZ: Increase in Black-Owned Businesses in Downtown Macon
- 41NBC: Macon Black Business Community Expo
- Encyclopedia Britannica: Black-Owned Businesses
- Google Search: Black Owned Businesses in Georgia
Author: STAFF HERE AUGUSTA WRITER
AUGUSTA STAFF WRITER The AUGUSTA STAFF WRITER represents the experienced team at HEREAugusta.com, your go-to source for actionable local news and information in Augusta, Richmond County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as Arts in the Heart Festival, Westobou Festival, and Masters Week. Our coverage extends to key organizations like the Augusta Metro Chamber of Commerce and Greater Augusta Arts Council, plus leading businesses in manufacturing and healthcare that power the local economy such as Textron Specialized Vehicles, Cardinal Health, and Nutrien. As part of the broader HERE network, including HEREAtlanta.com and HERESavannah.com, we provide comprehensive, credible insights into Georgia's dynamic landscape.
